Calling the Corolla “Toyota’s most important car” would be an understatement. This single model accounts for 38 percent of all Toyotas ever sold in the USA and they expect to shift 330,000 next year alone. If the sheer quantity wasn’t amazing enough, ponder this reality: 75% of sales will be split between just fourdifferent configurations. If you’re in a 2014 Corolla, the odds are about one in five that the Corolla next to you is identical save for paint color. Often derided by the automotive press as a “driving appliance,” is there more to the 2014 Corolla or is it just a toaster with wheels? Let’s find out.

Toyota may have become monumental on the basis of the midsize Camry’s popularity with American drivers over the past two decades, but that monument was built on the foundation of many, many compact Corollas. Before Lexus, before Camry, it was the Corolla that earned Toyota its reputation for reliability and quality construction. Forty million Corolla branded cars have been sold globally since the car’s introduction in 1968. For more than a generation, the conventional answer from both car enthusiasts and regular consumers alike, when asked to name a reliable small car, has been “Toyota Corolla”. Like Alfred Sloan proposed, Toyota knows that if you can capture car buyers when they are just entering the market, you can sell them a lot of cars over the course of their lives. While driving the latest Corolla isn’t on most car enthusiasts’ or automotive journalists’ bucket lists, the introduction of a new Corolla is indeed big news, at least as far as the car industry is concerned. Though the Honda Civic leads the segment in U.S. sales, the Corolla is close behind in second place and Toyota expects to sell about 300,000 Corollas this year. They’re hoping to increase that by 10% by selling cars to other than just traditional Corolla buyers, attracted by more exciting exterior styling and upgraded interior features. (Read More…)

Recently, the Insurance Institute for Highway Safety, which conducts its own independent crash testing of new cars, added the “small overlap test” to its rating procedures. That particular crash test simulates a 40 mph collision wherein the front driver side corner of the car strikes an oncoming car or a fixed object like a utility or light pole. Twenty five percent of highway deaths in head-on collisions are from that type of wreck. The IIHS yesterday released test results for the newly redesigned 2014 Toyota Corolla and the compact sedan only received a “marginal” score. According to Automotive News, the Corolla cannot earn the institute’s Top Safety Pick honors, which are restricted to cars that have “acceptable” or “good” scores on all crash tests. (Read More…)

Live shots from the Corolla reveal. The white car is the “Eco” model, while the grey car is the LE. The red “S” was featured prominently throughout the reveal. Anybody more interested in Junkyard Finds can click the jump.

By the time you’ve read this, I’ll have seen the new Corolla in the flesh. We’ll have more details shortly, but because you were dying to know, yes, the 4-speed automatic is back. But only on the very base model. Otherwise, there’s a CVT (which Toyota is calling a “7-Speed”) or a 6-speed manual. There will be an Eco model, targeting over 40 mpg, as well as an “S” model, seen here. The engine is a 1.8L with 132 horsepower and 128 lb-ft of torque, while Eco models get a revised valve timing system that puts out 140 hp and 126 lb-ft.